According to a press release shared with U.Today, Cardano's innovation fund, cFund—which supports startups at early stages—has invested $500,000 in Blockswap's DeFi app to have Cardano's native cryptocurrency, ADA, integrated into the platform.
The app is called Open Saver, and it only works with blockchains running on the proof of stake (PoS) consensus protocol, avoiding environment-harming blockchains like Bitcoin and Ethereum.
Thus, investors using Open Saver will be able to profit from betting on green cryptocurrencies without having any specific technical knowledge or skills.
Aside from receiving staking rewards, the app will also allow ADA staking operators to utilize their crypto holdings as collateral, which can, in theory, increase the rewards they will get from staking.
Vladislav Sopov
Denys Serhiichuk
Tomiwabold Olajide